Treasury sells $35 bln in 2-year debt at 0.288%

SAN FRANCISCO (MarketWatch) -- The Treasury Department sold $35 billion in 2-year notes
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Monday at a yield of 0.288%, a slightly higher than average yield given recent auctions. Bidders offered to buy 3.77 times the amount of debt sold, compared to an average of 3.82 times at the last four sales. Indirect bidders, a group that includes foreign central banks, bought 17.9%, versus 28.2% in recent sales. Direct bidders, which includes domestic money managers, purchased another 29.7%, versus an average of 26.9%. The broader bond market remained lower after the auction. Yields on 10-year notes
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which move inversely to prices, rose nearly 3 basis points to 1.98%.

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